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Journal of Financial and Quantitative Analysis最新文献

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Do Underwriters Short-change Corporations Issuing Bonds? 承销商会亏待发行债券的公司吗?
2区 经济学 Q1 Economics, Econometrics and Finance Pub Date : 2023-10-27 DOI: 10.1017/s002210902200151x
Jeremy Goh, Lisa Yang
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引用次数: 0
Capital Structure with Information about the Upside and the Downside 资本结构的上行和下行信息
2区 经济学 Q1 Economics, Econometrics and Finance Pub Date : 2023-10-25 DOI: 10.1017/s0022109023001278
Pierre Chaigneau
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引用次数: 0
Overlapping Ownership Along the Supply Chain 供应链上的所有权重叠
2区 经济学 Q1 Economics, Econometrics and Finance Pub Date : 2023-10-23 DOI: 10.1017/s0022109023001266
Kayla M. Freeman
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引用次数: 4
The Valuation of Collateral in Bank Lending 银行贷款抵押品的价值评估
2区 经济学 Q1 Economics, Econometrics and Finance Pub Date : 2023-10-23 DOI: 10.1017/s0022109023000704
Stephan Luck, João A. C. Santos
Abstract We study the valuation of collateral by comparing spreads on loans by the same bank, to the same borrower, at the same origination date, but backed by different types of collateral. Pledging collateral reduces borrowing costs by 23 BPS on average. The effect varies across different types of collateral, with marketable securities being most valuable, and real estate and accounts receivables and inventory being more valuable than fixed assets and a blanket lien. Further, the rate reduction from pledging collateral is sensitive to the value of the underlying collateral, and collateral tends to be more valuable for smaller and private firms and for loans with longer maturity.
摘要本文通过比较同一银行,同一借款人,在同一发起日期,但由不同类型的抵押品支持的贷款利差来研究抵押品的估值。质押抵押品平均降低了23个基点的借贷成本。不同类型抵押品的影响不同,有价证券最有价值,房地产、应收账款和存货比固定资产和一揽子留置权更有价值。此外,质押抵押品的利率降低对基础抵押品的价值很敏感,对小型和私营公司以及期限较长的贷款来说,抵押品往往更有价值。
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引用次数: 0
Directors: Older and Wiser, or Too Old to Govern? 导演:更老更聪明,还是太老不能执政?
2区 经济学 Q1 Economics, Econometrics and Finance Pub Date : 2023-10-18 DOI: 10.1017/s0022109023001151
Ronald Masulis, Cong Wang, Fei Xie, Shuran Zhang
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引用次数: 0
Information Spillover and Corporate Policies: The Case of Listed Options 信息溢出与公司政策:以上市期权为例
2区 经济学 Q1 Economics, Econometrics and Finance Pub Date : 2023-10-17 DOI: 10.1017/s0022109023001229
Gennaro Bernile, Jianfeng Hu, Guangzhong Li, Roni Michaely
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引用次数: 0
Why Naive Diversification Is Not So Naive, and How to Beat It? 为什么幼稚的分散投资不是那么幼稚,如何战胜它?
2区 经济学 Q1 Economics, Econometrics and Finance Pub Date : 2023-10-16 DOI: 10.1017/s0022109023001175
Ming Yuan, Guofu Zhou
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引用次数: 0
Borrowing Stigma and Lender of Last Resort Policies 借款耻辱和最后贷款人政策
2区 经济学 Q1 Economics, Econometrics and Finance Pub Date : 2023-10-16 DOI: 10.1017/s0022109023001187
Yunzhi Hu, Hanzhe Zhang
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引用次数: 0
Credit Provision and Stock Trading: Evidence from the South Sea Bubble 信贷供给与股票交易:来自南海泡沫的证据
2区 经济学 Q1 Economics, Econometrics and Finance Pub Date : 2023-10-16 DOI: 10.1017/s0022109023001163
Fabio Braggion, Rik Frehen, Emiel Jerphanion
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引用次数: 0
Overcoming Arbitrage Limits: Option Trading and Momentum Returns 克服套利限制:期权交易和动量收益
2区 经济学 Q1 Economics, Econometrics and Finance Pub Date : 2023-10-05 DOI: 10.1017/s002210902300114x
Abhay Abhyankar, Ilias Filippou, Pedro A. Garcia-Ares
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引用次数: 0
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Journal of Financial and Quantitative Analysis
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